302
302
Nov 21, 2012
11/12
by
CNBC
tv
eye 302
favorite 0
quote 0
what it means for the markets now, the changes, potential tax law changes could mean. what are you hopeful about? what are you worried about? >> for the next five years, ten years, a very simple model. you have to raise revenues, lower expenses, and grow the economy. but the economy is not isolated. and the global economy is important. how does the u.s. participate? so we have to keep an eye on europe, we can't ignore it. you have to keep an eye on china. china's going to step on the accelerator in march if not earlier. and within the framework of the next ten years, can we regain our economic prowess? and that's priority number one. if you have these guys in new york, mayor bloomberg, mayor booker, the mayor, the governors, cuomo, christie, malloy, if they went on holiday while we had sandy, what would you do? we have an economic crisis. they're going to take a short break in december. yeah, we have to have a patch, but we have to have a fix. and a structural fix is so fundamental so that if you're running a business and you have clarity and visibility for the next fi
what it means for the markets now, the changes, potential tax law changes could mean. what are you hopeful about? what are you worried about? >> for the next five years, ten years, a very simple model. you have to raise revenues, lower expenses, and grow the economy. but the economy is not isolated. and the global economy is important. how does the u.s. participate? so we have to keep an eye on europe, we can't ignore it. you have to keep an eye on china. china's going to step on the...
209
209
Nov 29, 2012
11/12
by
CNBC
tv
eye 209
favorite 0
quote 1
. >> let's be very clear, though, the president has already signed into law more cuts than were in the simpson-bowles proposal, he's proposed additional cuts in the 2013 budget he's proposed. to say he hasn't put cuts on the table is completely disingeneralsous. >> karen is making president obama out to be a tight fisted spending cutter. you followed the fiscal beat? >> do you regard president obama as a tight-fisted spending cutter? >> it's somewhere in between. he did sign a cap that would save a trillion dollars over the next would you mean of years. but thens other side of it is that we need about $4.9 trillion of savings over the next year to stabilize grashio, or cutting spending to medicare crieders. you actually do need to take on and storm reforming or we're going to be facing a down grade of all three rate being agencies. >> in brief, this stuff about -- they call it providers. providers are patients, providers congress -- you think congratulations and republican are going to take out from -- >> i think it's going to be a provider but i generally don't think it's like it. >>
. >> let's be very clear, though, the president has already signed into law more cuts than were in the simpson-bowles proposal, he's proposed additional cuts in the 2013 budget he's proposed. to say he hasn't put cuts on the table is completely disingeneralsous. >> karen is making president obama out to be a tight fisted spending cutter. you followed the fiscal beat? >> do you regard president obama as a tight-fisted spending cutter? >> it's somewhere in between. he did...
253
253
Nov 21, 2012
11/12
by
CNBC
tv
eye 253
favorite 0
quote 0
anymore, and they just wait long enough, those stocks will work their way higher because of that some law of reverse gravitation that they all subscribe to. it's been a lousy strategy, if it's been a strategy at all if you can even subscribe to that. in recent years, it's been really horrific. think about it. for the last -- the five years 2007 to the middle of 2012, s&p 500 have climbed by 9%. things have gotten better over the last few years. but when you look at the benchmark performance over the first decade of the new millennium, the s&p was down 24%. though you only did lose 9%, lose only 9 in the ten years when you factor in reinvested dividends. which is why, hey, i'm always telling you to own some high yielding dividend stocks. but still, factoring dividends from 2000 to 2009, you were better off hoed hiding your money in a mattress. the strategy didn't work. let me give you some advice that you almost never hear from any fraternal order of buy and hold. i want to talk about a forbidden term. some say it's a curse word, marks me as a charlatan. i want to talk about selling, selli
anymore, and they just wait long enough, those stocks will work their way higher because of that some law of reverse gravitation that they all subscribe to. it's been a lousy strategy, if it's been a strategy at all if you can even subscribe to that. in recent years, it's been really horrific. think about it. for the last -- the five years 2007 to the middle of 2012, s&p 500 have climbed by 9%. things have gotten better over the last few years. but when you look at the benchmark performance...
131
131
Nov 22, 2012
11/12
by
CNBC
tv
eye 131
favorite 0
quote 0
so they use a magic substitute word called a "swap," which, by virtue of federal law, is deregulated. >> so anybody who was nervous about buying these mortgage-backed securities, these cdos, they would be sold a credit default swap as sort of an insurance policy? >> a credit default swap was available to them, marketed to them as a risk-saving device for buying a risky financial instrument. >> but there was a problem. >> oh, there was a big problem. >> what was the problem? >> well, the problem was that if it were insurance or called what it really is, the person who sold the policy would have to have capital reserves to be able to pay in the case the insurance was called upon or triggered. but because it was a "swap" and not insurance, there was no requirement that adequate capital reserves be put to the side. >> now, who was selling these credit default swaps? >> bear stearns was selling them. lehman brothers was selling them. aig was selling them. you know, the names we hear that are in trouble--citigroup was selling them. >> these investment banks were not only selling the securit
so they use a magic substitute word called a "swap," which, by virtue of federal law, is deregulated. >> so anybody who was nervous about buying these mortgage-backed securities, these cdos, they would be sold a credit default swap as sort of an insurance policy? >> a credit default swap was available to them, marketed to them as a risk-saving device for buying a risky financial instrument. >> but there was a problem. >> oh, there was a big problem. >>...
110
110
Nov 22, 2012
11/12
by
CNBC
tv
eye 110
favorite 0
quote 0
but that's done according to law. >> the industry opposes calling coal ash hazardous waste. they're pushing for another solution: recycling. [ticking] >> as we'll see when 60 minutes on cnbc returns, the coal industry thinks it's found a solution by recycling coal ash. but in some cases, it's only made the problem worse. x- "sounn drum and flute" look who's back. again? it's embarrassing. it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. fifteen minutes could save you fifteen percent or more. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ if we want to improve
but that's done according to law. >> the industry opposes calling coal ash hazardous waste. they're pushing for another solution: recycling. [ticking] >> as we'll see when 60 minutes on cnbc returns, the coal industry thinks it's found a solution by recycling coal ash. but in some cases, it's only made the problem worse. x- "sounn drum and flute" look who's back. again? it's embarrassing. it's embarrassing! we can see you carl. we can totally see you. come on you're better...
106
106
Nov 21, 2012
11/12
by
CNBC
tv
eye 106
favorite 0
quote 0
a law professor at ohio state university, his specialty is chinese counterfeiting. we know that 15% to 20% of all goods in china are counterfeit. >> and these days, the way china's economy is booming, 15% to 20% means tens of billions of dollars. evidence of the counterfeiting trade can be seen at this hong kong warehouse where counterfeit watches, shoes, computer chips, all copied in china, and seized in hong kong, are tossed onto a conveyor belt, and consigned to the dust bin of history. but it's like stopping the rain, the seizure may look impressive, but every day, 6,000 shipping containers leave hong kong's harbor for the u.s. packed with products made in china, and only a small fraction of those containers are ever inspected. >> this is the most profitable criminal venture, as far as i know, on earth. >> counterfeiting. >> counterfeiting. and your partners don't kill you. >> attorney harley lewin has been chasing counterfeiters from china for more than twenty years. and china's now the undisputed capital of the counterfeit. >> 80% or more worldwide. >> can you
a law professor at ohio state university, his specialty is chinese counterfeiting. we know that 15% to 20% of all goods in china are counterfeit. >> and these days, the way china's economy is booming, 15% to 20% means tens of billions of dollars. evidence of the counterfeiting trade can be seen at this hong kong warehouse where counterfeit watches, shoes, computer chips, all copied in china, and seized in hong kong, are tossed onto a conveyor belt, and consigned to the dust bin of...
114
114
Nov 26, 2012
11/12
by
CNBC
tv
eye 114
favorite 0
quote 0
but that's done according to law. >> the industry opposes calling coal ash hazardous waste. they're pushing for another solution: recycling. [ticking] >> as we'll see when 60 minutes on cnbc returns, the coal industry thinks it's found a solution by recycling coal ash. but in some cases, it's only made the problem worse. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. is the same frequent heartburn treatment as prilosec otc. now with a fancy coating that gives you a burst of wildberry flavor. now why make a flavored heartburn pill? because this is america. and we don't just make things you want, we make things you didn't even know you wanted. like a spoon fork. spray cheese. and jeans made out of sweatpants. so grab yourse
but that's done according to law. >> the industry opposes calling coal ash hazardous waste. they're pushing for another solution: recycling. [ticking] >> as we'll see when 60 minutes on cnbc returns, the coal industry thinks it's found a solution by recycling coal ash. but in some cases, it's only made the problem worse. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national....
143
143
Nov 26, 2012
11/12
by
CNBC
tv
eye 143
favorite 0
quote 0
. >> this building houses a prominent law firm and while it may be the first of its kind in sydney, it's unlikely to be alone for long with planning similar inclusions in newer buildings. matthew taylor, cnbc, sydney. >>> we'll take a short break. still to come, trade links up next. this week an analyst says britain risks scoring their own goal when it comes to doing business abroad. >>> a study warns britain could score its own goal because of bureaucratic hurdles. louisa spoke to the international advisory panel and asked about the findings of the report. >> the findings are around the fact that the world is changing, the landscape has changed. places that used to be attractive before maybe aren't so attractive now. northern europe is still attractive, southern europe is a let's not go there. the bric companies, they're almost seen as safe havens now. but some of the lessons are there are issues, there are local customs and cultures that may make it difficult. there is going to be ethical question marks and krupg. there may be currency exposures. and i think the lessons for the smes ar
. >> this building houses a prominent law firm and while it may be the first of its kind in sydney, it's unlikely to be alone for long with planning similar inclusions in newer buildings. matthew taylor, cnbc, sydney. >>> we'll take a short break. still to come, trade links up next. this week an analyst says britain risks scoring their own goal when it comes to doing business abroad. >>> a study warns britain could score its own goal because of bureaucratic hurdles....
358
358
Nov 22, 2012
11/12
by
CNBC
tv
eye 358
favorite 0
quote 0
law enforcement as the john gotti of japan. but there was one thing goto's power and money couldn't buy him in his homeland. he had liver disease and desperately needed a transplant. culturally, the japanese don't believe in organ donation, so to get a new liver, he needed to come to the u.s. for a yakuza, that should have been a problem, says mike cox. he was the chief of immigration and customs at the u.s. embassy in tokyo. >> we want to be a welcoming country in the united states, but certainly, we don't want the yakuza coming to the united states. >> because they're criminals? >> they have extensive criminal histories here in japan. they are members of criminal organizations. for both of those reasons, they would be ineligible to enter the united states. >> how did he get around that? according to jake adelstein's reporting, which we confirmed, tadamasa goto made a deal with the fbi. he offered to become a rat and inform on his yakuza brothers. >> goto said, "here's the deal. i need to get in the united states to get my liv
law enforcement as the john gotti of japan. but there was one thing goto's power and money couldn't buy him in his homeland. he had liver disease and desperately needed a transplant. culturally, the japanese don't believe in organ donation, so to get a new liver, he needed to come to the u.s. for a yakuza, that should have been a problem, says mike cox. he was the chief of immigration and customs at the u.s. embassy in tokyo. >> we want to be a welcoming country in the united states, but...
223
223
Nov 27, 2012
11/12
by
CNBC
tv
eye 223
favorite 0
quote 1
from here is going out into the national governments and with the eu and getting some changes in the law that will allow for direct debt forgiveness. that's the problem. they can't do that. it's illegal right now. that's what you'll see. this was a big deal. the first step along the way to forgiving all of that greek debt. they're not going to repay the money. it's just going to go away over many, many years. let's move on and talk -- i'm telling you, it's a big deal on greece today. great news out of case-shiller. you want year over year changes. year over year up 3.6%. all right. it's not titanic. we had a big drop. it's continually moving in the right direction. home metricks moving in the right direction. you made a big deal over las vegas sands that came out yesterday. i added some of these up. certainly nice that it's happening. it's not amounting to a lot. there's not that many companies out there doing it. to me more important is getting a company to move dividend payments from january into december. even there a few companies are doing it. january of this year i checked on this
from here is going out into the national governments and with the eu and getting some changes in the law that will allow for direct debt forgiveness. that's the problem. they can't do that. it's illegal right now. that's what you'll see. this was a big deal. the first step along the way to forgiving all of that greek debt. they're not going to repay the money. it's just going to go away over many, many years. let's move on and talk -- i'm telling you, it's a big deal on greece today. great news...
285
285
Nov 26, 2012
11/12
by
CNBC
tv
eye 285
favorite 0
quote 0
spirit of american giving, and i believe that people will continue to donate regardless of the tax law changes. >> would it impact your organization or not, you think it would not impact it? >> well, it's hard to tell. you know, i'd like to believe that people donate because they think it's the right thing to do, not just because they get a tax break. time will tell. >> gail, are you dependent on the really big bucks guys like if it goes to, say it went to 50 on a cap, you'd still get, the average donor that gives to the red cross it wouldn't affect, that still would be tax deductible but are you dependent on people giving $1 million or whatever? i'm sure there are a lot of people that do that as well, right? >> well, we get large donations primarily from corporations and corporate foundations, and we get lots and lots of small gifts. as an example, during the earthquake in haiti, we got $32 million from texting $10 at a time so we also get very small gifts as well as large gifts from corporations. >> but not individuals giving $10 million usually so it might not hurt you that much if
spirit of american giving, and i believe that people will continue to donate regardless of the tax law changes. >> would it impact your organization or not, you think it would not impact it? >> well, it's hard to tell. you know, i'd like to believe that people donate because they think it's the right thing to do, not just because they get a tax break. time will tell. >> gail, are you dependent on the really big bucks guys like if it goes to, say it went to 50 on a cap, you'd...
173
173
Nov 26, 2012
11/12
by
CNBC
tv
eye 173
favorite 0
quote 0
you get to debt exchanges such as what occurred with greece if this is the case and there can be case law said that you have to pay interest to those who didn't exchange, it may make those kind of exchanges far more difficult. >> i listened to your breaking story on friday. i said i don't understand the jurisdiction. how does a federal court tell argentina what to do? >> i think it also comes back to the payment bank of new york as the third party transferrer of funds from argentinean government forcing them to -- it's a good question. i can't say that i can absolutely answer it definitively for you. >> could the federal court order the deposition of the head of iraq? let's get him in here. let's depose him. >> there's some standing questions there. no question about that. >> i just find that argentina may be -- argentina is doing a lot of things behind the scenes with tariffs and very tough on american business people. are they going to say a federal court judge, they're going to hold us in contempt? what does he got? how many divisions does the federal court judge have? >> they can forc
you get to debt exchanges such as what occurred with greece if this is the case and there can be case law said that you have to pay interest to those who didn't exchange, it may make those kind of exchanges far more difficult. >> i listened to your breaking story on friday. i said i don't understand the jurisdiction. how does a federal court tell argentina what to do? >> i think it also comes back to the payment bank of new york as the third party transferrer of funds from...
184
184
Nov 28, 2012
11/12
by
CNBC
tv
eye 184
favorite 0
quote 0
law should have a little bit more confidence that they may actually be able to, you know, get countries to react. i think going forward, this has been a benefit. >> hans, do you expect argentina to make this payment by december 15th? >> that's -- i think what's being suggested now is that if they're going to pursue the legal avenues, that they're going to have to post a payment -- the payment of the 1.3 billion in escrow. what's interesting is guillermo nielsen, the debt negotiator for argentina back in the first go-around, the 2005 exchange, frankly i consider it to be quite a bit part of the problem in not dealing with the creditors, but even he suggested that they post the payment into escrow and let the legal process go. we've heard in argentina that the main person who is opposing sort of a rational process in seeing how this goes is the president, christina fernandez kirshner, but that there seems to be a bit more of thought that they make this payment. actually, just a payment to elliot, to aurelias, i'm not sure it's going to be in the cards. i think the choices that they try to
law should have a little bit more confidence that they may actually be able to, you know, get countries to react. i think going forward, this has been a benefit. >> hans, do you expect argentina to make this payment by december 15th? >> that's -- i think what's being suggested now is that if they're going to pursue the legal avenues, that they're going to have to post a payment -- the payment of the 1.3 billion in escrow. what's interesting is guillermo nielsen, the debt negotiator...
225
225
Nov 21, 2012
11/12
by
CNBC
tv
eye 225
favorite 0
quote 0
. >> his party is also considering the revision of the bank of japan law. yesterday the bank of japan chief hit back saying it was unrealistic. >>> just the latest in japan. let's get the market report kicked off by sixuan. >> let me start off with japan. the nikkei rallied, shrugging off the trade data. auto majors such as toyota and nissan gained over 2%. it was a choppy day of trade for china markets. the shanghai composite opened in the green and then dipped to a three and a half year low and rebounding to higher by over a percent. property stocks, most were up around 2% in late trade. the beaten down liquor producers also recouped some of their losses on bargain hunting. we'll get the hsbc flash pmi tomorrow. that will give us more clues about the state of china's economy. hong kong shares also ended higher today. the $3.6 billion ipo of china's insurer seems to be gaining momentum. sources say the company have secured, several corner stone investors, including aig. elsewhere, south korean shares were under pressure on concerns over europe. steel maker
. >> his party is also considering the revision of the bank of japan law. yesterday the bank of japan chief hit back saying it was unrealistic. >>> just the latest in japan. let's get the market report kicked off by sixuan. >> let me start off with japan. the nikkei rallied, shrugging off the trade data. auto majors such as toyota and nissan gained over 2%. it was a choppy day of trade for china markets. the shanghai composite opened in the green and then dipped to a three...